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Human Capital Management Defined

The backbone of any organization, however small, is its employees. Human Capital Management (HCM) refers to the management of employees in an organization in order to drive the productivity. HCM involves the acquisition of quality talent, training them to constantly upgrade their skills, rewarding them based on merit and retaining the workforce for longer periods. 

Human Capital Management In Detail

The proliferation of workforce, both existing and imminent, has paved way for technologies that are expected to keep up with the growing numbers.  The trend began with HCM leveraging a consumer-based approach using mobile technology. Recruiters are able to fetch fresh crop of talent through job search engines and applications. As more enterprises go global, mobile/tablet learning helps organizations deploy standard training modules across their branches.  On the other hand, cloud-based HCM has emerged as a cost-efficient and flexible alternative to the traditional methods.

Employees can have quick access to a large amount of data without the hassles that are accompanied with legacy software. Similarly, big data analytics has risen to be a game-changer and per industry experts, will be a prominent aspect in the HCM spectrum by 2020. It provides in-depth analysis of numerous performance parameters and can help bridge the gap between the goals of the employee and that of the organization.  As technology has evolved further, with the incorporation of sensors, wearable devices, integrated attendance system to name a few, Internet of Things (IoT) has grown to become a viable HCM solution provider.  Obtaining real-time data helps organizations make full utilization of their human resource.

An exciting time lies ahead for the HCM solution providers, as they attempt to overcome the challenges pertaining to the security threats in the near future.  The onus is very high on the providers as they help shape the landscape of numerous enterprises.

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